Some of the source of the confusion is that most purchasers have customized their units, choosing different room configurations as well as upgrades in finishes and appliances. In addition, some units were pre-purchased by investors who determined the price and time of sale. I get the feeling that some investors were willing to sell for less than the Orens themselves, which may explain the differences you see. My husband and I just purchased a unit on the 11th floor that we bought from an investor a year ago. To keep our monthly mortgage payments down we paid for upgrades in advance, so the actual cost of the unit won't be reflected in the sale price. Guy Orens has said that they have paid off their mortgage, so they're under no pressure to sell the rest of their units. The 11th floor is virtually done and they're going to work on the 12th floor penthouse units when purchasers come along.

I can't comment about why the progress of work was (seemingly) slow, not having much to compare it with. But the work proceeded floor by floor, so if something came up to slow work on one floor, such as a delay in delivery of flooring, everything that came after was delayed. I can say that the quality of work has been very good and that the final product is well worth waiting for.

What's interesting about this building are the units that are parallel with the Septa tracks. I think their might be 2 or 3 units that literally sit right on the tracks. Coming out of the tunnel everyday I see they are still working on these units. It would be interesting how they would sell these, considering that trains are constantly passing back and forth.

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Now what are we going to do about taking Winthorpe back and returning Valentine to the ghetto?

The level closest to the tracks would be the second floor, which will be commercial, not residential. I loved on the fifth floor on the west side for seven months and enjoyed watching the trains coming in and out of 30th street station. But I rarely heard anything, aside from a slight squeaking of the brakes. The trains never get up any speed between 30th Street and Suburban Station so they aren't very noisy. Now that I live on the 11th floor on the Septa side I never hear anything at all of the trains.

Does anyone have any more information regarding the flood insurance issue with this building? I'm closing on a place in mid june and my broker has brought that to my attention. Thoughts and comments about anything in the building are appreciated. otherwise this place looks great.

Does anyone know what if anything is going in the ground floor?

The 3rd floor is level with the tracks, and - yes - there are residential units on that floor that look directly at the tracks - if not from slightly above.

The 2nd floor has (I think) 8 residential units but the side that faces the bridge for the tracks and JFK Blvd is commercial with an architecture firm as the tenant.


The building, like River's Edge at 2301 Cherry St, sits in a flood plain. Your lender will require you to have flood insurance. If you get a lender that doesn't ask you for it now, you'll eventually get "caught" and you will need to get it anyway. Make sure you budget for it.


I believe a spa and a dentist's office. Maybe a coffeeshop.

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I'm Mr Brightside.

Hi there,

It was a bit of a hassle getting the paperwork processed with the lender, but the condo association itself has flood insurance so I wasn't required to get individual insurance for my unit. The Orens Bros have been very helpful with regard to this and immediately faxed a copy of the building's flood insurance to my lender.

Cheers,

While the building should have it to cover building parts that are vulnerable I wouldn't expect you to need it on your unit unless it is in the basement. If the building had to be evacuated because of a flood would your "loss of use" coverage provide living quarters if your unit isn't actually damaged? Do you have a nice high "loss assesment" amount to cover a building assesment to pay for flood damage?

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STAY WET AND STAY HAPPY!

Its a cosmetic dentist office. i think i even saw that there was a plastic surgeon inside. its a huge space that they are still using for construction so i hope there is more than a coffee shop going into the other comercial space. appreciate the response on the insurance question

If you go an re-fi or if your file is audited by the lender, you will find that you will need an individual policy. I'm not speculating - I know this as fact.

If you don't have it now, you will need it soon.


The building has it's own policy but the individual units need to be insured, as well. I know that sounds stupid, but it is absolutely the case.

You're getting a little convenience store on the corner, too, I just learned.

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I'm Mr Brightside.